HERD

More Knight-Ridder sales executives board the outbound train.

In New York City, Knight-Ridder's downtown sales head David Huck is departing for ACT Financial Systems Inc. And George Friedman, head of one of Knight-Ridder's three strategic accounts groups, is leaving for Bridge Information Systems Inc.'s sales department. Both had earned entry into Knight-Ridder's so-called "president's club," a group selling 125 percent of quota, according to a source at the vendor. The two follow a long and growing list of salespeople and other Knight-Ridder staffers who've fled in recent months (IMD, May 23). The causes for dissatisfaction that the departing have cited most frequently are a new commission structure and the corporate culture implemented under managing director Pat O'Grady, who took over last year (IMD, July 6, 1993).

As part of a major derivatives push at Canadian Imperial Bank of Commerce (CIBC) investment subsidiary Wood Gundy Corp., the firm has hired Tom Kielty away from Daiwa Securities America Inc. Kielty will serve as a senior vice president of technology for CIBC, as well as a vice president of Wood Gundy. He'll report to Ron Lalonde, executive vice president of CIBC. No one has replaced him yet at Daiwa. A Daiwa spokesperson declines to comment.

Glenn Weinbaum has resigned from Union Bank of Switzerland's logistics department, after a tenure of only some two months (see related story, this issue). He heads to Credit Suisse First Boston Corp., where he will lead a unit developing a global billing system, sources say. Weinbaum couldn't be reached for comment. Prior to his brief stint at UBS, Weinbaum handled market data matters for Morgan Stanley & Co. (IMD, April 25).

Govpx Inc. elected Bankers Trust Securities Inc. vice president Jack Norris to the Govpx board of directors at its June 7 board meeting. Norris founded the Zero Coupon Traders Association. He was also previously president of Drexel Burnham Lambert Government Securities Inc. -- a subsidiary of the defunct Drexel Burnham Lambert Inc. -- and an executive vice president at Nationsbanc/CRT.

Long-time Merrill-Lynch & Co. market data executive George Bradshaw has retired. No word on a replacement yet.

Also departing Merrill is Tom Gottcent, until last week its manager of market data services. He heads for the greener fields of North Carolina, where he'll be trading floor support manager at First Union National Bank (FUNB). Gottcent starts at FUNB today. Merrill has not yet designated a replacement for him.

Reuters is canvassing the dailies to fill three strategic marketing openings in its fixed-income department. Each of the three hires will serve as manager for a separate division: corporate bonds and credit risk; mortgage- and asset-backed securities; or, finally, municipal bonds. Candidates need seven to ten years experience. Reuters is also looking for project leaders. The preferred candidates will have a six-year track record in systems and applications development in a Unix/C environment, along with strong knowledge of sockets, shared memory, message queues and signals.

McGraw-Hill Inc.'s Kenny S&P Co. is soliciting a production control manager for its evaluation services unit. The unit is responsible for independent portfolio pricing of both taxable and tax-exempt securities. To be considered, candidates need five years experience.

ADP seeks a vice president of treasury operations for its Roseland, N.J. office, to manage corporate funds, its foreign exchange exposure and the investment of the vendor's foreign cash.